Economic Development of Agricultural Food Enterprises on an Innovative Basis

Abstract

Abstract. The agri-food sector has been and remains the basis of Ukraine’s economy. Today, in the face of industrial decline and the all-encompassing process of deindustrialization of the economy, agri-food enterprises remain stable market players. Despite obstacles to development, agro-holdings have long dominated the agri-food market, accumulating significant land and financial resources. The largest companies are Kernel, UkrLandFarming, MHP, Agroposperis and Astarta-Kyiv, whose land banks exceed 200,000 hectares. These companies employ almost 75,000 workers. Agricultural holdings invest in their own development. One of the priority areas is innovative development. It is innovation that provides stability and a future for companies. The largest innovation fund is owned by Kernel, which spent $ 2.7 million, MHP — 2.5, AP Group — 2, Astarta-Kyiv, Harveast and IC — 1, Epicentr Agro — $ 0.42 million. Among these companies, Harveast and IC made the highest investments in innovative development per 1 hectare of agricultural land — 8.1 dollars, MHP — 6.9 $, Kernel and AP Group — 5 $, Astarta-Kyiv — 4 $ and Epicentr Agro — 3.8 $ per 1 hectare of agricultural land. However, despite these achievements, a mark of $ 50 / ha is considered acceptable. Due to the implementation of innovative measures Astarta-Kyiv saved about 15 million dollars in 4 years, Agroprosperis several times increased the efficiency of decisions made by agronomists, UkrLandFarming increased yields by a quarter. In general, according to experts, 80% of all spending on innovation is spent on computerization and automation of accounting processes, electronic document management, and protection of information from theft. Our study allowed us to analyze the work of company management in terms of areas of innovative development and to derive an indicator of integrated innovative development by segments and individual companies. This approach can be extrapolated to small and medium-sized agri-food enterprises. Keywords: innovation, economic development, agri-food enterprises, business process management, sustainable development. JEL Classification D24, O12, O13, O31 Formulas: 0; fig.: 2; tabl.: 2; bibl.: 25.

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